Jennifer recently earned a degree in accounting and her first employment opportunity is an accountant at a major corporation. The 401K portion of her employment package has a personal investment cap at 20% of her salary and the employer contribution portion is 50% of her contribution. Her annual salary is $56,500 and she chose to invest 14% annually. Calculate the value of her 401K after 10 years at 4%, and then calculate the value of her 401K had she invested the maximum amount that her employer would match.
Future Value of $1
Future Value of Annuity of $1

Question

Jennifer recently earned a degree in accounting and her first employment opportunity is an accountant at a major corporation. The 401K portion of her employment package has a personal investment cap at 20% of her salary and the employer contribution portion is 50% of her contribution. Her annual salary is $56,500 and she chose to invest 14% annually. Calculate the value of her 401K after 10 years at 4%, and then calculate the value of her 401K had she invested the maximum amount that her employer would match.
Future Value of $1
  Future Value of Annuity of $1

Quizplus · Accepted Answer

The Answer of Jennifer recently earned a degree in accounting and her first employment opportunity is an accountant at a major corporation. The 401K portion of her employment package has a personal investment cap at 20% of her salary and the employer contribution portion is 50% of her contribution. Her annual salary is $56,500 and she chose to invest 14% annually. Calculate the value of her 401K after 10 years at 4%, and then calculate the value of her 401K had she invested the maximum amount that her employer would match.
Future Value of $1
  Future Value of Annuity of $1

Jennifer Recently Earned a Degree in Accounting and Her First